KT Renko Patterns EA
KT Renko Patterns EA
MT4 | MT5
- Update Log
In manual trading, many of the trading setups and opportunities provided by the KT Renko Patterns indicator are missed due to sudden price movements on the Renko charts.
KT Renko Patterns EA solves this problem by implementing a 100% automated trading strategy based on the KT Renko Patterns indicator. After fetching the patterns formation and signals directly from the indicator, it performs some pre-checks and assessments to efficiently execute the trading positions.
All the dependencies are embedded in the expert advisor. It's not imperative to buy the KT Renko Patterns indicator to operate this EA successfully.
- Go fully automated with the KT Renko Patterns indicator and save tons of time.
- Fully compatible with our free Renko Chart Generator.
- No additional download is required. All the required dependencies are embedded in the EA.
- It fetches the stop-loss and profit targets directly from the indicator in the most efficient way.
- It prints the pattern name with each entry to facilitate the identification of each trade.
- Further boost the EA performance using the inbuilt filters like Session-Filter, MMI, Vortex, Volatility, Market Regime and more.
- Flexible stoploss trailing to prevent the winners from turning into losses.
- Protection against the black swan events using the max. loss function.
- ----- Renko Pattern Settings -----
- Min. Bars Between Patterns: The number of min. bars between each pattern.
- W-M Pattern: true/false
- Power Pennant Pattern: true/false
- AB=CD Pattern: true/false
- Triple Top/Bottom Pattern: true/false
- Double Top/Bottom Pattern: true/false
- Two-Back Brick Pattern: true/false
- ZigZag Pattern: true/false
- Swing Breakout Pattern: true/false
- Draw Pattern Names: If true, EA will draw the pattern name with each new trade.
- ----- Trade Settings -----
- Max. Active Positions: The no. of maximum active positions in the same direction.
- Exit at Opposite Pattern: If true, positions will be closed at the patterns in opposite direction.
- Lot Size Method: Fixed or Auto
- ----- Exit Settings -----
- Stoploss Method: Pips/Volatility/Fetch from indicator
- Take-Profit Method: Pips/Volatility or TP1/TP2/TP3 from the indicator
- SL Trailing Method: Pips/Volatility
- ----- Set the Filters -----
- Trading Sessions: All | Asian | London | New York | Asian-London | London-New York | New York-Asian
- Trend Filter: True | False
- Volatility Filter: True | False
- Vortex Filter: True | False
- MMI Filter: True | False
- ----- Miscellaneous Settings -----
- Max Loss Protection: True | False
- Logging: True | False (EA logs all its operation in the journal tab)
Here are the set files to perform the similar backtests:
How to backtest this EA?
It is possible to backtest the EA on a Renko chart using MT4, but it will require third-party libraries. We recommend the MT5 version for backtesting as the chart generated by KT Renko Chart Generator will also be available on the strategy tester.
You can even download the free demo of the MT5 version for backtesting and then buy the MT4 version for live trading.
Does it also draw Renko patterns on the chart like the indicator?
The EA marks the pattern's name with each trade, but it cannot draw the patterns like the indicator. To view the complete pattern formations, you may consider purchasing the KT Renko Patterns indicator.
On MT5, why the trading positions are not visible on the Renko chart?
MT5 handles the Renko chart as a separate symbol. Trading positions will be visible on the normal chart.
How can I get the Renko charts on MT4/MT5?
It's easy and free to get the Renko charts on MT4/MT5. We have covered the complete process in our blog post - How to Trade using Renko on Metatrader 4/5.
Why it's making my PC slow?
Make sure you are using a well-optimized Renko utility to build the Renko charts.
If using the Renko Live Chart Generator, Use the "Limit Bars" features to limit the number of historical bars used for the Renko generation. Please make sure the number of Limit Bars is chosen, which supplement the selected Box size.
Does it work on standard time-based charts?
The KT Renko Patterns EA is explicitly developed for the Renko chart. It works on the standard time-based chart but is not recommended as it defeats this EA's whole purpose.
- Fixes the error/bug that says "indicator is too slow".
- Addresses some bugs.
- EA now draws the name for each pattern irrespective of a trading position.
- EA now includes the pattern name in the order's comment.
- Source code optimization for faster execution.
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Another excellent EA from Keenbase.
Backtest results using provided set files looks amazing.
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